New Zion, South Carolina Property Taxes
The median property tax rate in New Zion, SC is 0.99%, aligning with the national median but higher than the South Carolina state median of 0.72%. With a median home value of $22,582 in New Zion, the typical annual property tax bill is $178, significantly below the national median of $2,690. Property taxes in New Zion are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding New Zion's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of New Zion or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Zion, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$224
$207
Ownwell’s New Zion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Zion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Zion to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across New Zion, South Carolina
Property taxes in New Zion, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Zion is 0.99%, aligning with both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within New Zion set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Zion estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. Understanding how New Zion's effective property tax rate compares to other areas provides valuable insights into the varying tax landscape across Williamsburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Zion Tax Rate
0.99%
Average Williamsburg County Tax Rate
1.16%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Zion, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29111 | 0.11% | 0.19% | 0.99% | 2.12% | 3.36% |
Source: Ownwell
Property Tax Assessment Values Across New Zion, South Carolina
In New Zion, South Carolina, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Williamsburg County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In New Zion, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in New Zion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 29111 in New Zion has the highest median tax bill at $178.
Average New Zion Assessed Value
$22,582
Average Williamsburg County Assessed Value
$21,858
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Zion, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29111 | $4,891 | $9,064 | $22,582 | $65,920 | $189,508 |
Source: Ownwell
Property Tax Bills Across New Zion, South Carolina
In New Zion, Williamsburg County, SC, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in the area is $22,582. The local tax rate is applied to this assessed value to determine the annual property tax bill. For homeowners in New Zion, tax bills can vary significantly. The 25th percentile tax bill is $125, while the 75th percentile reaches $458, and the 90th percentile goes up to $1,049. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, New Zion's rates can be more affordable, making it an attractive location for homeowners seeking lower tax burdens. Understanding these factors is crucial for homeowners to anticipate their annual tax obligations and manage their finances effectively.
Average New Zion Tax Bill
$178
Average Williamsburg County Tax Bill
$188
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across New Zion, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29111 | $48 | $125 | $178 | $458 | $1,049 |
Source: Ownwell